Sylvamo Q3 adjusted EPS $1.70 beats; raises dividend 20%, authorizes $150M buyback, launches cost cuts

Sylvamo Corp

2023-Q3 EPS reported $4.77 revenue$2,757,000,000

Q3 adjusted EBITDA $158M (18% margin) vs $124M in Q2; adjusted EPS $1.70 vs $1.14.
Q4 EBITDA guidance $90M–$110M; full-year free cash flow expected >$270M.
Regular dividend raised 20% to $0.30/share; special dividend of $0.30 declared; board authorized incremental $150M buyback.
Launched Project Horizon cost reduction targeting at least $110M run-rate savings by end-2024, cutting ~150 salaried positions.
Returned $110M to shareholders YTD, plans $125M total for 2023; debt reduced 35% since spin-off.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Sylvamo Corp reported fiscal quarter ended September 30, 2023 results: net income $58 million ($1.37 per diluted share), EPS $1.37 per diluted share.

Period: fiscal quarter ended September 30, 2023
Net income: $58 million ($1.37 per diluted share)
EPS: $1.37 per diluted share
Result: reported results

Exact text from the filing

On November 9, 2023, Sylvamo Corporation issued a press release announcing its financial results for the fiscal quarter ended September 30, 2023.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

Sylvamo Corp filing history →

Source: SEC EDGAR

accession 0001856485-23-000025

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